Falcon Gold

Overview

Falcon Gold Corp. (TSXV:FG) is a Canadian mineral exploration company focused on creating value for its investors through the acquisition, exploration and advancement of projects in North and South America. Currently focused on two projects in Ontario, Canada and in La Rioja, Argentina, Falcon Gold has a disciplined project vetting process for selecting strategic properties with the highest potential for value.

Falcon Gold is navigating an acquisition stage and has as such acquired both the Central Canada cobalt and gold project in Northwestern Ontario and the Esperanza concessions in Northern Argentina. Both of these jurisdictions have proven to be safe and stable, while also demonstrating a friendly environment for exploration companies. Falcon Gold believes each project has potential for expansion as well as for strategic joint venture opportunities that could help unlock additional value.

The Central Canada project includes six cobalt-copper-gold claims collectively titled the English Claims, as well as the Central Canada gold mine property, which hosts seven mining claims. It sits nearby a number of significant mineral deposits including the Rainy River Gold Mine, with a resource of 6.2 million ounces of gold and 13.3 million ounces of silver, and the Werner Lake Cobalt deposit, with 181,000 tonnes of 0.4 percent cobalt. The project was strategically selected with the help of Falcon Gold’s CEO Stephen Wilkinson, who has deep knowledge of the region alongside strong relationships within it as well.

Falcon Gold is also focused on developing its Esperanza mineral concessions, of which the company acquired an initial 80 percent interest in late 2017. The project sits in the Sierra de las Minas district, an area known for mineral wealth and long-life precious and base metal deposits. The project hosts several past-producing and artisanal mines, as well as several identified gold zones.

The Falcon Gold management team is seasoned in exploration, project generation, development and mining operations across the world. Through years of expertise, the management team has garnered a network of mining associates in Canada, South America and Asia, providing the company with ready access to projects, deals and financing options. Making use of this network, the company is looking into a potential acquisition pipeline of three to four additional projects.

Company Highlights

Projects in safe and stable jurisdictions of Ontario, Canada and Northwestern Argentina.

Esperanza concessions sit in prospective Sierra de las Minas district in Argentina.

Potential pipeline of additional projects.

Management and insiders own over 15 percent of shares.

Key Assets:

Coomer Lake Vanadium Claims

Falcon has the right to acquire a 100% interest in 50 (vanadium and titanium) mining claim units in the James Bay Lowlands in the Porcupine Mining Division of Northern Ontario. The claim units cover an area of approximately 800 hectares (“ha”) located adjacent to developing mining camp in James Bay Lowland, Canada and strategically close to proposed Ring of Fire access road. The property encompasses a continuous strike length of 7 kilometres of favorable stratigraphy. Historical diamond drilling resulted in a high-grade intercept of 4.90 meters of 0.75% V2O5, 7.56% TiO2.

Central Canada Cobalt and Gold

The Central Canada cobalt and gold project includes two claim groups, the English Claims and the past-producing Central Canada gold mine property, which total 13 claims across 1,270 hectares in Northwestern Ontario. The project covers 10 kilometers of the Quetico fault zone, which hosts occurrences of banded iron formations uniquely enriched with cobalt and copper sulphides in VMS-like lenses.

Both claim groups are easily accessed by roads and highways, and the English claims also have access to a power line and natural gas line. The properties sit nearby a number of significant mineral deposits. This includes the Rainy River gold, which has a resource of 6.2 million ounces of gold and 13.3 million ounces of silver; the Werner Lake cobalt deposit, which hosts 181,000 tonnes of 0.4 percent cobalt; the Red Lake gold mine, with a reserve of 2.17 million ounces of gold, having produced 29 million ounces of gold historically; and the Musselwhite gold mine, which has a reserve of 1.85 million ounces of gold.

English Claims

Covering 880 hectares, the English Claims cover six claims and host the historic Staines occurrence, which has historical drill intersections of 0.64 percent copper, 0.15 percent cobalt, 1.1 percent zinc and 0.35 g/t gold over a true width of 40 meters. This is indicative of the showings across the property, which have pointed to occurrences of cobalt, copper and gold in shallow and surface drilling initiatives.

Central Canada gold mine

The Central Canada gold mine property covers 390 hectares that sit 1.5 kilometers away from the Staines occurrence and hosts two geological formations. The northern claims have Archean-age greenstone rocks that host gold mineralization. The southern portion of the property, meanwhile, is covered by Sapawe Lake, which is underlain by iron formations and greenstone rock hosting cobalt and gold occurrences.

Historical work on the Central Canada gold mine includes the building of a shaft in the early 1900s, during which time 27 ounces were extracted from 18 tons in a stamp mill. The shaft was deepend to 40 meters in the 1930s by Central Canada Mines Ltd., which operated a 75 ton-per-day gold mill.

In the 1960s, Anjamin Mines Ltd. completed diamond drilling, which showed values of 37.0 g/t gold over 2.0 feet and 44.0 g/t gold over 7.0 feet. This was complemented by drilling in the 1980s, where Interquest Resources Corp. drilled 13 holes across 1,840 meters and saw intersections of up to 30.0 g/t gold over 3.8 feet.

Moving forward

Falcon Gold has plans for conducting field work and airborne geophysical surveys that will help validate historical data for the property and also establish targets for future drilling programs.

Esperanza Gold and Copper Concessions

In late 2017, Falcon Gold signed an agreement to acquire an 80 percent interest in the 7 mining concessions that make up the Esperanza gold and copper land package. The property is located in the southern region of Argentina’s La Rioja province and covers 22,000 hectares. Located in the prospective Sierra de las Minas district, the property is host to numerous past-producing and artisanal gold mines. Supported by existing infrastructure in the region, the property can be easily accessed by highway and gravel roads.

On the property, gold and copper zones are hosted in fractures and shears that are structurally controlled and laterally extensive. These are considered to resemble the ore zones that were mined at Jerritt Canyon in Nevada.

As part of their review of the property, Falcon Gold management took samples from the Callanas West mine site, which sits on a 2.5-meter-wide gold vein. Results from this sample showed values of 5.9 g/t gold, 20.6 g/t silver and 0.29 percent copper.

Management

Stephen Wilkinson, BSc., MSc., MBA—CEO and Director

In the mid to late 1990’s, Stephen Wilkinson was the Vancouver-based mining analyst for RBC Dominion Securities Inc. responsible for small capitalization gold and base metal companies. From 1999 to 2002, he was President, CEO and Director of Northern Orion Explorations Ltd. and currently President and CEO of WPC Resources Inc., a British Columbia – based gold exploration company. He has extensive international experience in the mining and finance industries having served as an officer and director of several private and public companies. He has a Bachelor of Science from the University of Western Ontario (Geology, 1976), a Master of Science from Carleton University in Ottawa (Geology, 1983) and an MBA degree from Clarkson University in New York (1995).

David Tafel, BA—Chairman and Director

David Tafel holds a BA in Economics from the University of Western Ontario and contributes over 25 years of corporate structuring, strategic planning, financing and management experience to the Company. He is currently CEO of Centurion Minerals Ltd., an agri-gypsum fertilizer company with operations in Argentina. He is also CEO of Portofino Resources Inc., a lithium explorer with projects in Catamarca, Argentina. He has been an officer and director of a number of publicly listed companies. He co-founded MBMI Resources Inc., which became a nickel producer in the Philippines (reaching a market capitalization of $400 million). He lead the spin out of Garson Gold Corp (from MBMI) and as CEO went on to acquire the New Britannia gold mine in Manitoba from Kinross/High River. Garson was subsequently bought out by a Toronto based mining company for over $35 million. Prior to his public company experience, he managed private investment funds at the largest independent Canadian securities firm.

James Farley—Director

James Farley has been involved in the capital markets for over 25 years, initially as a financial advisor and subsequently as a private businessman. He is currently a business consultant for the mining and oil and gas industries, specializing in Health Safety and Environmental management.

Brian Crawford, BCom—CFO and Director

Brian Crawford, a chartered accountant, holds a Bachelor of Commerce from the University of Toronto and has over 30 years experience providing business advisory and corporate finance services to private and public companies. He is a former partner with BDO Dunwoody, LLP, and currently is President of Brant Capital Partners Inc., a position which he has held since 2002, and a director and CFO of GTA Resources and Mining Inc., a TSX Venture-listed company.

Kenneth Cawkell, LLB—Secretary

Kenneth Cawkell is a member of the British Columbia Bar Association, and, in 1987, he co-founded the law firm Cawkell Brodie LLP, where he remains as Managing Partner. For over 25 years, he has been involved in technology industries within public, private and venture capital markets; successfully fulfilling the roles as a professional advisor and as a principal / investor. In his professional capacity, he has focused on intellectual property, technology transfer, financial and transaction structuring, and securities law. He is an investor and founder of a number of private companies, where he has held executive management positions, and currently sits on the board of a number of private and public companies. He has served as director and officer of a number of public companies involved in the mining industry. He is also a past member of the National Research Council of Canada IMB/ INH Advisory Board and the British Columbia Securities Commission’s Securities Law Advisory Committee.

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